The role of FINTECH innovations in promoting Digital Shariah-Compliant Finance: Saudi Arabian case study
The role of FINTECH innovations in promoting Digital Shariah-Compliant Finance: Saudi Arabian case study

Summary/Abstract: This research article aimed to determine the impact of FinTech Innovations on increasing Shariah-compliant financing given the ongoing digital development in Saudi Arabia and its current focus in adopting technology. In this study quantitative and qualitative methods were used and the most important results are the Saudi Arabia is at the top of the most advanced Arab and Shariah-compliant countries in the use of Shariah-compliant Financial Technology due to the government’s desire to implement plans and programs to digitize financial and banking systems as Vision 2030, FinTech technologies also helped in the development of digital platforms based on the principles of Shariah-compliant with the aim of providing products and services to customers. The study recommends that others developing countries should emulate the experience of Saudi Arabia as a pioneering digital model especially amend the legal and regulatory frameworks to adopt Shariah-compliant FinTech.

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